% 0.98
BTC Dominance:
% 0.31
Market Cap:
$2.57 T
% 0.03
Fear & Greed:
75 / 100
$ 68.553
BTC Dominance:
% 52.7
Market Cap:
$2.57 T

Bitmain Introduces Mining Equipment for Aleo

Bitmain, the largest manufacturer of Bitcoin mining equipment, is planning to launch mining machines for Aleo, a proof of work blockchain that uses zero-knowledge proofs to increase privacy. This China-based firm is considering offering an “Antminer” model for Aleo, which is currently in the testing phase.

Last year, the developers of Aleo managed to raise $200 million in a Series B financing round led by SoftBank Vision Fund 2 and Kora Management. Notable investors such as Tiger Global, Andreessen Horowitz (a16z), Samsung Next, Slow Ventures and Sea Capital also participated in this funding round.

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In its statement, Bitmain did not specify the launch timeline for the new mining equipment based on Aleo.

The planned launch of Bitmain’s Aleo-based mining devices drew public attention after the company made an internal announcement in September due to reported cash flow issues with paying staff salaries. According to crypto reporter Colin Wu, the company has made progress in repaying salaries.

Nevertheless, Bitmain appears to be making progress in other areas. In September, Bitmain launched its latest Antminer S21 model, and some miners expressed interest in purchasing these new machines. For example, CleanSpark, an American Bitcoin miner listed on Nasdaq, announced it had purchased 4.4 exahash per second of S21 mining machines.

Bitmain also announced plans to invest $54 million in Core Scientific, a bankrupt Bitcoin mining company. Bitmain operates as a firm that designs and produces application specific integrated circuit (ASIC) chips for Bitcoin mining, and also manages Antpool, one of the largest crypto mining pools in the world.

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